douginil
2 years ago
Vital Metals unveils rare earth processing plant in Saskatoon
Saskatoon, Sask. (Sept 20, 2022) - With the click of a symbolic chain link, Vital Metals and guests today officially unveiled the company's multi million-dollar rare earth processing facility in Saskatoon, Canada.
From India to Estonia and Germany to Australia, some 200 leaders in the global rare earth industry gathered to celebrate Vital's progress in establishing a responsibly sourced supply chain of rare earths for friends and allies.
Representatives of 11 jurisdictions ranged from Indigenous, federal, provincial, territorial and municipal governments to the governments of Australia, Norway, Germany and the United States. They joined Vital Metals interim CEO Russell Bradford as friends and allies in linking together a symbolic rare earth supply chain to mark the event.
"The Vital Metals and Cheetah Resources teams are intensely proud of what everyone has achieved to
date,” said Bradford at the site of Vital’s 3,087 square meter plant. “The foundations have been laid for
a great future for all our stakeholders to develop our rare earth business. What we just demonstrated
represents our partners and customers in our supply chain, and we are grateful that you are with us
today to help celebrate this milestone in our journey.”
Read and get access to the PR at:
https://mailchi.mp/1c6794d0ae0e/vital-metals-unveils-rare-earth-processing-plant-in-saskatoon?e=080567558f
douginil
2 years ago
COMMISSIONING COMMENCES AT VITAL’S SASKATOON RARE EARTH EXTRACTION PLANT
- Commissioning at Vital’s Saskatoon Rare Earth Extraction Plant commences, with ore fed into the dense media separation (DMS) unit
- Commissioning and ramp-up of the Saskatoon Plant will occur over two distinct phases: the product qualification phase before the throughput ramp-up phase commences
- Initial focus is production of 2.5 tonnes of rare earth carbonate at specification for delivery to offtake partner REEtec in accordance with agreed qualification protocols
- Vital is targeting delivery of this product to REEtec in October 2022
- Phase 2 of plant commissioning will then commence with throughput ramp-up and associated contract deliveries to REEtec
- Saskatoon facility will process rare earth ore mined at Vital’s Nechalacho project in Northwest Territories, Canada
- Vital expects to ramp up production volumes at Saskatoon through two stages:
- - Stage 1 throughput capacity of 1,000t/yr REO (ex-cerium), equivalent to 470t/yr NdPr
- - Stage 2 capacity of 2,000t/yr REO (ex-cerium), equivalent to 940t/yr NdPr
- Vital will supply REEtec with 750t/yr NdPr – or 75% of Saskatoon’s Stage 2 capacity
Canada’s first rare earths producer Vital Metals Limited (ASX: VML l OTCQB: VTMXF) (“Vital”, “Vital Metals” or “the Company”) is pleased to announce it has commenced feeding ore into a dense media separation (DMS) plant as part of commissioning its rare earth extraction facility in Saskatoon, Saskatchewan, Canada.
Vital will commission the Saskatoon facility incrementally over coming months with plans to produce a 2.5t rare earth carbonate sample for offtake partner REEtec Ag as the nextstep of product qualification. Vital is processing ore from the Company’s Nechalacho operation in Canada’s Northwest Territories, where mining commenced in mid-2021.
Vital Metals Managing Director Geoff Atkins said: “This is an exciting step for the Company as we continue our transition from rare earth developer to operator. We have been a rare earth miner for more than 12 months and now we can commence production of rare earth carbonate. We are excited to have reached this milestone at Saskatoon despite the challenges surrounding supply chains and logistics across the world.
“We are targeting to produce 2.5t of carbonate for REEtec as an important step of our production qualification process before we commence ramping up our volume. We are forecasting for this to occur in October 2022.”
To read more goto:
https://vitalmetals.com.au/investor-centre/asx-announcements/
click on the June 16 announcement.
douginil
3 years ago
Breaking News: #InvestorIntel to introduce its own #Metaverse platform for companies at #PDAC --click here to watch
Also, you will not want to miss one of the few people on the planet who has taken an exploration company to production in the rare earths sector...join us.
Tuesday, May 10th from 9-920 AM EST, Join InvestorTalk.com with with Geoff Atkins from Vital Metals Ltd. (ASX: VML | OTCQB: VTMXF)
Join Zoom Meeting --- CLICK HERE
https://us02web.zoom.us/j/84257371784?pwd=Mm1HakFOMnB5MjlQWEpyNmJkSzVMUT09
Wednesday, May 11th from 9-920 AM EST, Join InvestorTalk.com with Frederick Kozak from Appia Rare Earths & Uranium Corp. (CSE: API | OTCQB: APAAF)
Join Zoom Meeting --- CLICK HERE
https://us02web.zoom.us/j/81050293662?pwd=QjZVM2Z4Z2hwTXJlRG9TVlcrNjRoZz09
For any questions, please do not hesitate to reach me at +1 416 792 8228 or dial me directly at 647 289 7714.
Enjoy your evening!
__
Tracy Weslosky
InvestorIntel Corp.
@TracyWeslosky
douginil
3 years ago
VITAL METALS' MARCH 2022 QUARTERLY REPORT
April 29, 2022
Vital accelerates heavy rare earths strategy, aiming to be the world’s first producer of both heavy and light rare earth oxides
Vital’s three-stage development strategy includes adding heavy rare earths to its existing light rare earths operation at Nechalacho with first production ~ mid 2022
It will investigate developing a zone of xenotime mineralisation, a heavy rare earth mineral, at Nechalacho’s North T pit, targeting a 10-year operation from the zone
Vital commences drilling to define maiden Ore Reserve for the Tardiff deposit at Nechalacho
Vital plans to develop Tardiff in a modular fashion, having defined three modules with an existing resource of 16.3Mt at 1.85% TREO – or 303kt contained TREO
Tardiff is part of Vital’s larger 94Mt at 1.4% TREO Nechalacho resource (1.3Mt contained TREO)
Tardiff contains elevated heavy rare earths mineralisation which may complement North T’s xenotime deposit as part of Vital’s strategy to produce heavy and light rare earths
Construction activities continue at Saskatoon Rare Earth Extraction facility with first feed to occur in June 2022
Vital secures C$5 million interest-free funding facility from PrairiesCan
Funding is for eligible costs relating to establishing and commissioning Saskatoon facility and will assist Vital’s working capital requirements during facility commissioning and ramp
Vital’s shares commenced trading on the OTCQB Venture Market in North America
Offtake partner REEtec signs supply agreement with Schaeffler securing Vital’s revenue from the sale of its product to REEtec
Canada’s first rare earths producer Vital Metals Limited (ASX: VML l OTCQB: VTMXF) (“Vital”, “Vital Metals” or “the Company”) is pleased to report on its activities during the March 2022 quarter, including at its 100%-owned Nechalacho Rare Earth Project in Yellowknife, Northwest Territories, Canada.
Vital Metals Managing Director Geoff Atkins said “This quarter has crystallised Vital’s three-stage development strategy to become a leading rare earths producer and the world’s first producer of heavy and light rare earths. Our three stages are foundation, growth and heavy rare earth production and we are now taking the steps towards executing that strategy.
“With our first mining campaign complete at Nechalacho’s North T pit in 2021, our rare earth extraction facility in Saskatoon is nearly ready to start processing bastnaesite concentrate shipped from site to produce a mixed rare earth carbonate for our offtake partners. This will cement our foundation as a rare earth producer.
“From there we are drilling at Tardiff to define a maiden Ore Reserve for the Zone 1 module as part of our second stage of growth and we are focusing other work during 2022 on developing the existing xenotime resource at North T, which sits beneath the base of the current mining envelope, into our development strategy, to accelerate our plans to become a producer of both rare earths groups.
douginil
3 years ago
Vital Metals
September 2021 Quarterly Report
HIGHLIGHTS
- Vital enters agreement to acquire Quebec Precious Metals Corporation’s 68% interest in Kipawa and 100% of Zeus heavy rare earth projects in Quebec, Canada, for C$8 million staged over 4 years
- Acquisition has potential to transform Vital into the only producer of both light and heavy rare earths in North America
- Construction is underway on Vital’s rare earth extraction plant in Saskatoon, Saskatchewan, Canada which will process ore from Vital’s Nechalacho mine with first feed into the plant in December 2021; first product by June 2022.
- Offtake partner REEtec increases offtake of Vital’s REO by 50% after amending existing agreement – increase equates to 75% of Vital’s expanded Saskatoon plant capacity
- Vital executes MOU with Ucore Rare Metals (TSX-V: UCU, OTCQX: UURAF) for Vital to supply a minimum of 500t REO (ex-cerium) per year for Ucore’s
ALASKA2023 project
-- Vital continues ramping up Nechalacho rare earths production following ore sorter commissioning
-- Vital intersects high-grade REO in Tardiff Zones 2 & 3 including outside existing Nechalacho resource
-- Mining intersects high-grade REO mineralisation in Nechalacho North T pit wall.
Vital Metals Managing Director Geoff Atkins said: “Vital Metals continues to grow in stature as Canada’s first rare earths producer.
“With mining and production performing well at Nechalacho, we have construction of our rare earths extraction facility in Saskatoon, Saskatchewan underway, which we have oversized to enable expanded production capacity in Stage 2 operations. We expect first feed into this before the end of CY2021.
“Our plant is being built adjacent to Saskatchewan Research Council’s rare earth processing facility, and we are excited to see Saskatoon’s rare earths hub take shape and demonstrate the capacity of Canada to be an increasingly important contributor to the rare earths supply chain.
“In addition, during the quarter we announced plans to acquire the Kipawa and Zeus heavy rare earths projects in Quebec, Canada. These projects have the potential to complement our light rare earths operations at Nechalacho and transform Vital into the only North American producer of both light and heavy rare earths.
“In recent weeks, we announced some important developments in terms of our offtake, with partner REEtec increasing its offtake of our product by 50%, equating to 75% of the expanded capacity at Saskatoon. We also executed an MOU with Ucore Rare Metals, providing us with an important and exciting entrance into the North American downstream rare earth supply chain. Ucore is the most advanced new rare earth separation company coming into the North American market, and on the back of our amended agreement with REEtec, positions Vital as a critical supplier of rare earth feedstock in two major markets, Europe and North America.
“This timing bodes well for Vital as rare earth demand and prices continue to increase."
Read at:
https://mailchi.mp/efdb332e3e65/vital-metals-september-2021-quarterly-report?e=080567558f
Middleborder
3 years ago
Wyomingdude; Vital Metals; Here is their website
https://vitalmetals.com.au/board/
In the US They trade under VTMXF.
(My brokerage charges a $50 fee for a foreign share purchases.)
Be certain to look at their financials and the number of outstanding shares and warrents.
https://vitalmetals.com.au/wp-content/uploads/2021/03/VML-2020-HY-Report.pdf
Basic and diluted loss per share for the 1/2 year is $.15 $AU. The current US$ S/P is $.044.
Capital share structure
https://vitalmetals.com.au/investor-centre/capital-structure/
Ordinary fully paid shares (VML) 4,154,233,084 (4.15 billion outstanding.....every time McDonalds sells a hamburger they issue a share!! )
They also list the outstanding warrants extending into 2025. Every one of them is already "in the money."
(**Note that 3 or 4 previous directors left the board. Bad Sign!)
After you do this then you can review their recent press releases.
My thought, without too much analysis, is that unless there is some sort of government help, they need to produce product on their joint processing agreement this year just to remain in business. To me this fell in the category of a highly risky speculative investment. I might have put $200 or $300 dollars into it but because I would pay $50 foreign transaction fee going in AND Getting out I passed. I think there are safer investments with a better chance of success.
I am not a financial analyst or anything, and while I hope Vital Metals succeeds, i would everyone should do their own due diligence and make up their own minds on whether to invest!
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